Los Angeles Capital Management & Equity Research Inc. Has $601,000 Stake in CBIZ, Inc. (CBZ)
Los Angeles Capital Management & Equity Research Inc. decreased its position in CBIZ, Inc. (NYSE:CBZ) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,040 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of CBIZ worth $601,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. P2 Capital Partners LLC grew its holdings in shares of CBIZ by 67.6% in the 1st quarter. P2 Capital Partners LLC now owns 2,361,073 shares of the business services provider’s stock worth $31,993,000 after purchasing an additional 952,501 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CBIZ by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 2,194,818 shares of the business services provider’s stock worth $29,740,000 after purchasing an additional 141,845 shares during the last quarter. Granite Investment Partners LLC bought a new stake in shares of CBIZ in the 2nd quarter worth about $10,331,000. ClariVest Asset Management LLC grew its holdings in shares of CBIZ by 80.7% in the 2nd quarter. ClariVest Asset Management LLC now owns 589,575 shares of the business services provider’s stock worth $8,844,000 after purchasing an additional 263,312 shares during the last quarter. Finally, Fenimore Asset Management Inc. grew its holdings in shares of CBIZ by 9.7% in the 2nd quarter. Fenimore Asset Management Inc. now owns 556,200 shares of the business services provider’s stock worth $8,343,000 after purchasing an additional 49,400 shares during the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of CBIZ from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine raised shares of CBIZ from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of CBIZ from a “buy” rating to a “hold” rating in a report on Monday, July 24th.
In other CBIZ news, insider Chris Spurio sold 16,250 shares of CBIZ stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $15.18, for a total value of $246,675.00. Following the transaction, the insider now owns 191,293 shares in the company, valued at $2,903,827.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ware H. Grove sold 25,000 shares of CBIZ stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $15.06, for a total value of $376,500.00. Following the completion of the transaction, the insider now owns 282,172 shares in the company, valued at approximately $4,249,510.32. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Shares of CBIZ, Inc. (NYSE CBZ) opened at 16.00 on Friday. The company has a market cap of $869.23 million, a price-to-earnings ratio of 18.93 and a beta of 0.91. CBIZ, Inc. has a one year low of $10.73 and a one year high of $16.10. The firm’s 50-day moving average is $14.85 and its 200-day moving average is $14.79.
CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $207.42 million. CBIZ had a return on equity of 9.42% and a net margin of 5.54%. CBIZ’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Analysts expect that CBIZ, Inc. will post $0.87 EPS for the current fiscal year.
CBIZ Company Profile
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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